John Fredriksen

## Early Years & Childhood

John Fredriksen was born on May 10, 1944, in Oslo, Norway. He later became a naturalized Cypriot citizen.

## Family

Fredriksen is a widower with two twin daughters, Cecilie and Kathrine Astrup Fredriksen, born in 1983. His late wife, Inger Astrup Fredriksen, was a dentist and belonged to one of the prominent Astrup families in Norway.

## Career Highlights

Fredriksen's career took off in the 1960s when he ventured into oil trading in Beirut, Lebanon. In the 1970s, he made his first tanker purchases. However, it was during the Iran-Iraq War in the 1980s that Fredriksen amassed his fortune. He transported oil at great risk but reaped substantial profits, eventually becoming the world's largest tanker owner with over 70 oil tankers.

Fredriksen's business interests extended beyond oil tankers. He also ventured into oil rigs and fish farming. His fleet primarily consists of costly double-hulled tankers, which are environmentally safer. In 2006, he acquired more than 50% of Smedvig, gaining control of the company. However, he later sold his stake in Smedvig to Seadrill in 2009, giving Seadrill full control.

Fredriksen has also been the majority owner of Vålerenga I.F., a Norwegian football club, for many years.

## Companies

John Fredriksen has significant interests in several companies, including:

- Offshore driller Seadrill - Fish farming company Mowi - Dry bulk company Golden Ocean Group - Supply vessel company Deep Sea Supply

He also controls the companies Frontline and Golar LNG through investment companies Hemen Holdings and Meisha. Additionally, Fredriksen previously owned 9.6% of Overseas Shipholding Group.

## Major Achievements

Fredriksen's major achievements include:

- Becoming the world's largest oil tanker owner - Building a vast business empire encompassing oil tankers, oil rigs, and fish farming - Establishing a reputation for taking risks and achieving great success in the shipping industry## Awards & Achievements

Fredriksen has received numerous awards and accolades for his business achievements, including:

- Norwegian Shipowner of the Year (1989) - Ernst & Young Entrepreneur of the Year (1997) - Honorary Doctorate from the Norwegian School of Economics (2003)## Personal Life & Legacy

Fredriksen is known for his private lifestyle and rarely gives interviews.

He is an avid art collector, particularly of classic Norwegian art. He owns several properties around the world, including houses in London, Oslo, Cyprus, and Marbella, Spain. The Old Rectory in London, one of his properties, is estimated to be worth around US$172 million.

Fredriksen has also made significant contributions to philanthropy. He claims to support research projects at The Radium Hospital and has donated several hundreds of millions of Norwegian kroner to medical research at hospitals in Norway.

## Trivia

Fredriksen was involved in the Gard Case, a legal dispute that arose in 1985 when Norwegian insurance company Gard became suspicious about losses of cargo from Fredriksen's tankers. A private investigation revealed a system for using heavy oil as bunker fuel. The case was turned over to the Norwegian police, offices were searched, and associates were detained. After several years of legal arguments, the case was settled out of court, with Fredriksen paying a fine of 2 million NOK and over US$800,000 to Gard.